Australian Pharmaceutical Industries Ltd (API):
Australian Pharmaceutical Industries chief executive Richard Vincent has warned the health and beauty sector is suffering from cutthroat competition as shoppers slash spending and retailers are forced into painful discounting to drive foot traffic into stores. API said the underlying performance of its drugs distribution business was strong, taking into account the decision by some manufacturers of more profitable Pharmaceutical Benefits Scheme medicines to sell those drugs directly rather than through drug distributors operating under the Community Services Obligation.
Caltex Australia Limited (CTX):
Caltex chief executive Julian Segal has raised questions about the future of the franchise model in Australia. “We need to recognise that there is an expectation of the community that the franchisor makes sure the franchisee pays the wages, but does it stop there?” he said in an interview with The Australian.
AMP Limited (AMP):
AMP has taken drastic action following the exposure of widespread misconduct within the organisation, pushing forward the departure of its chief executive Craig Meller. Non-executive director Mike Wilkins will replace Mr Meller in the short term until a successor is appointed. AMP has also pledged to undertake a review of its regulatory reporting and governing practices. It will appoint "a retired judge or equivalent independent expert" to oversee the review. The company has had more than $1 billion in market value wiped from its shares this week.
Asia Pacific Data Centre Group (APDC):
The stoush between landlord Asia Pacific Data Centre Holdings and its tenant NextDC has intensified with a fresh legal action. APDC has applied to the NSW Supreme Court to get access to the data centres so it can show the properties to independent valuers and prospective buyers, saying the move follows “numerous ¬attempts seeking access to the APDC portfolio”. APDC also sought a declaration that NextDC’s conduct is in breach of its leases across the three centres within APDC Trust for failing to comply with the landlord’s requests for access. Data centre operator NextDC said it intends to defend the landlord’s claims.
Fletcher Building Limited (FBU):
Investors hoping for a quick turnaround in the fortunes of Australasian construction and building products group Fletcher Building will need to show much more patience says one fund manager who described a big $710 million-plus capital raising as "triage before a bit of surgery”. Harbour Asset Management portfolio manager Shane Solly said while new Fletcher chief executive Ross Taylor was making the right moves in cleaning up the mess, there were substantial operational problems still needing to be ironed out.
Harvey Norman (HVN):
Billionaire retailer Gerry Harvey has made a quick $4 million profit for his shareholders in Harvey Norman after the furniture, bedding and consumer electronics chain sold a parcel of shares it owned in fashion and apparel business Gazal. In a series of notices to the ASX this morning, Harvey Norman (HVN) revealed it yesterday sold its 7.2 per cent stake in Gazal for around $10.4 million.
IMF Bentham Ltd (IMF):
An urgent crackdown on big technology is needed to break its stranglehold on the economy and drive greater competition, the managing director of the International Monetary Fund says. In an unusually strong attack, Christine Lagarde warned that countries would suffer if power remained concentrated in the hands of such a small group of “technology titans”, but stopped short of calling for them to be broken up.
National Australia Bank Ltd (NAB):
NAB says restructuring costs of $755m will impact its cash first-half profit. It says that’s “consistent” with prior guidance of half-year restructuring costs in the range of $500m-$800m. Actually it’s closer to the top end of that range.
Telstra Corporation Ltd (TLS):
Telstra chief technology officer Hakan Eriksson has delivered an upbeat assessment of the role the mobile network could play in controlling drones. Mr Eriksson said the drone space had “interesting” potential in areas including transport, but “we think there is a big component missing in how do you control all those drones”.
Woodside Petroleum Limited (WPL):
he huge Browse gas project is on the cusp of a major step towards development, with Woodside chief executive Peter Coleman ¬declaring a breakthrough agreement with the North West Shelf LNG plant was “imminent”. Mr Coleman revealed at yesterday’s annual general meeting in Perth that there was only one party left in the way of a deal between the Browse project partners and the six companies with stakes in the North West Shelf.
Evolution Mining Ltd (EVN):
JPMorgan and Citi's equites desks were seeking bids for 84.6 million shares in Evolution Mining on Thursday afternoon, in a trade worth about $280 million, as first reported by Street Talk. The sale was on behalf of La Mancha Resources, which owns 338 million shares or a 20 per cent stake in the ASX-listed gold miner.
（Source: AIMS）
Australian Pharmaceutical Industries chief executive Richard Vincent has warned the health and beauty sector is suffering from cutthroat competition as shoppers slash spending and retailers are forced into painful discounting to drive foot traffic into stores. API said the underlying performance of its drugs distribution business was strong, taking into account the decision by some manufacturers of more profitable Pharmaceutical Benefits Scheme medicines to sell those drugs directly rather than through drug distributors operating under the Community Services Obligation.
Caltex Australia Limited (CTX):
Caltex chief executive Julian Segal has raised questions about the future of the franchise model in Australia. “We need to recognise that there is an expectation of the community that the franchisor makes sure the franchisee pays the wages, but does it stop there?” he said in an interview with The Australian.
AMP Limited (AMP):
AMP has taken drastic action following the exposure of widespread misconduct within the organisation, pushing forward the departure of its chief executive Craig Meller. Non-executive director Mike Wilkins will replace Mr Meller in the short term until a successor is appointed. AMP has also pledged to undertake a review of its regulatory reporting and governing practices. It will appoint "a retired judge or equivalent independent expert" to oversee the review. The company has had more than $1 billion in market value wiped from its shares this week.
Asia Pacific Data Centre Group (APDC):
The stoush between landlord Asia Pacific Data Centre Holdings and its tenant NextDC has intensified with a fresh legal action. APDC has applied to the NSW Supreme Court to get access to the data centres so it can show the properties to independent valuers and prospective buyers, saying the move follows “numerous ¬attempts seeking access to the APDC portfolio”. APDC also sought a declaration that NextDC’s conduct is in breach of its leases across the three centres within APDC Trust for failing to comply with the landlord’s requests for access. Data centre operator NextDC said it intends to defend the landlord’s claims.
Fletcher Building Limited (FBU):
Investors hoping for a quick turnaround in the fortunes of Australasian construction and building products group Fletcher Building will need to show much more patience says one fund manager who described a big $710 million-plus capital raising as "triage before a bit of surgery”. Harbour Asset Management portfolio manager Shane Solly said while new Fletcher chief executive Ross Taylor was making the right moves in cleaning up the mess, there were substantial operational problems still needing to be ironed out.
Harvey Norman (HVN):
Billionaire retailer Gerry Harvey has made a quick $4 million profit for his shareholders in Harvey Norman after the furniture, bedding and consumer electronics chain sold a parcel of shares it owned in fashion and apparel business Gazal. In a series of notices to the ASX this morning, Harvey Norman (HVN) revealed it yesterday sold its 7.2 per cent stake in Gazal for around $10.4 million.
IMF Bentham Ltd (IMF):
An urgent crackdown on big technology is needed to break its stranglehold on the economy and drive greater competition, the managing director of the International Monetary Fund says. In an unusually strong attack, Christine Lagarde warned that countries would suffer if power remained concentrated in the hands of such a small group of “technology titans”, but stopped short of calling for them to be broken up.
National Australia Bank Ltd (NAB):
NAB says restructuring costs of $755m will impact its cash first-half profit. It says that’s “consistent” with prior guidance of half-year restructuring costs in the range of $500m-$800m. Actually it’s closer to the top end of that range.
Telstra Corporation Ltd (TLS):
Telstra chief technology officer Hakan Eriksson has delivered an upbeat assessment of the role the mobile network could play in controlling drones. Mr Eriksson said the drone space had “interesting” potential in areas including transport, but “we think there is a big component missing in how do you control all those drones”.
Woodside Petroleum Limited (WPL):
he huge Browse gas project is on the cusp of a major step towards development, with Woodside chief executive Peter Coleman ¬declaring a breakthrough agreement with the North West Shelf LNG plant was “imminent”. Mr Coleman revealed at yesterday’s annual general meeting in Perth that there was only one party left in the way of a deal between the Browse project partners and the six companies with stakes in the North West Shelf.
Evolution Mining Ltd (EVN):
JPMorgan and Citi's equites desks were seeking bids for 84.6 million shares in Evolution Mining on Thursday afternoon, in a trade worth about $280 million, as first reported by Street Talk. The sale was on behalf of La Mancha Resources, which owns 338 million shares or a 20 per cent stake in the ASX-listed gold miner.
（Source: AIMS）
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